Goldman's Blankfein Needn't Testify In $1B Toxic Assets Suit

Law360, Los Angeles (May 14, 2013, 8:55 PM EDT) -- Goldman Sachs Group Inc. CEO Lloyd Blankfein escaped having to testify in an investor class action accusing Goldman of using collateralized debt obligations to unload $1.2 billion in toxic subprime mortgage-related assets onto hapless investors, a New York federal judge ruled Tuesday.

Hedge fund Dodona I LLC has already issued deposition notices for 30 other Goldman employees it says have knowledge of the Hudson 1 and Hudson 2 CDOs and the amount of money Goldman made from selling them, according to U.S. Magistrate Judge Debra Freeman....
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.